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May 27, 2026
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Oil pulls back as traders look for progress on US-Iran talks
Money
Policy
Growth
Key Points
- * Global oil prices pulled back on Wednesday, erasing some gains from the previous day.
- * The price drop is due to uncertainty surrounding complex US-Iran negotiations.
- * Renewed hostilities near the Strait of Hormuz threaten efforts to reopen the crucial global oil and gas conduit.
- * The US carried out new strikes in Iran, which Iran claims violated a ceasefire, further straining peace efforts.
- * Despite the heightened tensions, recent passage of some LNG tankers through the Strait offers a glimmer of hope for its imminent reopening, potentially adding to global supply.
Why This Matters
Ghana, as both an oil producer and importer, is highly susceptible to global oil price fluctuations. Volatility driven by geopolitical tensions in key shipping lanes like the Strait of Hormuz directly impacts the cost of fuel, inflation, and government revenue. Such instability complicates economic planning and affects the daily cost of living for Ghanaians.
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May 27, 2026
President Mahama announces road construction projects in Zongo communities
- President John Dramani Mahama announced new road construction and rehabilitation projects.
- These projects are specifically targeted at Zongo communities across Ghana.
- The initiative is part of the administration's broader infrastructure development agenda.
- The primary goal is to improve living conditions, enhance accessibility, and support socio-economic activities in these underserved areas.
- The projects will commence in Koforidua Zongo before being replicated in other Zongo communities nationwide.
May 27, 2026
Eid al-Adha: Mahama calls for responsible behaviour among youth
- President John Dramani Mahama urged Ghana’s youth to avoid drug abuse and other negative influences.
- He emphasized discipline, hard work, responsibility, and positive values for national development.
- The message was delivered during his Eid al-Adha address at Independence Square.
- Mahama highlighted National Chief Imam Sheikh Osman Nuhu Sharubutu as an inspirational figure for his humility, tolerance, and peacebuilding.
- He encouraged young people to focus on education, skills, entrepreneurship, and service to humanity.
May 26, 2026
Adu-Boahene Trial: Defence questions witness on bank transfers
- The trial of Kwabena Adu-Boahene and others continued with the cross-examination of Madam Mildred Donkor, the third prosecution witness.
- The defence questioned the witness regarding several bank transfers, including GH¢1.7 million and GH¢402,000, allegedly made in favour of Mr. Adu-Boahene from Advantage Solutions Limited accounts.
- Madam Donkor confirmed these transactions appeared on documents and a GH¢1,650,000 transfer to Fidelity Bank linked to Adu-Boahene, stating she acted on instructions and the bank generated statements.
- Disagreements arose between the prosecution and defence over document interpretation and the tendering of an email concerning the closure of BNC Communications Bureau Limited's account.
- The defence argued the email was relevant to alleged money laundering of GH¢49.1 million by BNC, with the court set to rule on its admissibility.